Victorian Two-Family Home In Boston's Dorchester Sold For $1.1M
31 Mellen Street
$1,100,000
$330/SF
Building Size
3,324 SF
Asset Type
MultiFamily
Closing
Jun 25, 2024
AI
A historic Philadelphia-style Victorian two-family home on Ashmont Hill in Boston's Dorchester neighborhood sold for $1.1 million. Built in 1900 with original woodwork and stained glass, the property features a first-floor unit with three bedrooms and a second-floor unit offering four bedrooms, two balconies, and extensive living space. The property is located at 31 Mellen Street in Boston, MA with a total square footage of 3,324. The sale price was $1,100,000, resulting in a price per unit of $550,000 and a price per square foot of $331.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $1,100,000
- Address: 31 Mellen Street
- Market: Boston, MA
- Units: 2
- Square Footage: 3,324
- Price per Unit: $550,000
- Price per Square Foot: $331
The buyer's representative for this transaction was Anh Nguyen of Elevated Realty, while the seller's representative was O'Connor & Highland from Keller Williams Boston-Metro.
Players
Dorchester Center MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93